Panasonic to invests an additional $150M in venture capital
Panasonic is launching it's second venture capital fund, Conductive Ventures II, and doing so with a commitment of USD 150 million, a 50% increase from the first fund.
Headquartered in California, the new fund will invest in expansion stage enterprise software and hardware technology companies focusing on, but not exclusive to, artificial intelligence, financial technology, digital health, future of work, commerce, autonomous vehicle technologies, advanced manufacturing, as well as other future technologies. The first fund invested in companies such as Ambiq Micro, Blueshift, CSC Generation, Desktop Metal, and Versatile to name a few. Despite the young vintage of Fund I, one of its first investments, 3D printing company Desktop Metal, has announced its intention to go public. Panasonic has invested in Silicon Valley start-ups for over 20 years since 1998. As a member of the venture capital community, the company has been supporting these portfolio companies by providing business development and sales and cross-border expertise. "Uncertainty is rife in today's global economy," says Carey Lai, Managing Director of Conductive Ventures, the venture capital firm managing the two funds, in a press release. "We're committed to helping expansion stage companies build on their foundation, leverage their talent and innovation, and weather the storm to bring to market ideas and technologies that will have a positive impact on their respective industries and – collectively – on the economy." Conductive Ventures will continue to invest in expansion stage companies that have initial product-market fit and early customer success. By collaborating with these technology companies to explore new business opportunities, Panasonic seeks strong financial returns and potential to drive future growth.